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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th December 2018).

Note: ISX will be closed on Monday (Dec. 10, 2018) due to the anniversary of the victory against ISIS. The next trading session will be on Tuesday (Dec. 11, 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD654 (+0.6%) / $701 (+0.1%) (weekly change) (-19.4% and -16.1% YTD change, respectively). The number of week traded shares was 3.9 bn and the weekly trading volume was IQD3.0 bn ($2.5 mn).

ISX Company Announcements

  • According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,276,164 on Sunday (Dec. 9, 2018). (Table: 2.3)
  • ISX will suspend trading of Iraqi Agricultural Products and Marketing Meat (AIPM) starting Dec. 19, 2018 due to the AGM* that will be held on Dec. 24, 2018 to discuss and approve 2017 annual financial results.
  • ISX will suspend trading of National Chemical & Plastic Industries (INCP) starting Dec. 18, 2018 due to the AGM* that will be held on Dec. 23, 2018 to discuss and approve 2017 annual financial results.
  • Al-Ahlyia for Agricultural Production (AAHP) resumed trading on Dec. 5, 2018 after discussing and approving the financial results of the year ending Mar. 31, 2018 and deciding to distribute 2.55% cash dividends (IQD0.0255 cash dividend per share, 2.1% dividend yield).
  • ISX suspended trading of Al-Mosul for Funfairs (SMOF) starting Dec. 4, 2018 due to the AGM* that will be held on Dec. 9, 2018 to discuss and approve 2015, 2016 and 2017 annual financial results.
  • ISX suspended trading of National Islamic Bank (BNAI) starting Dec. 2, 2018 due to the AGM* that was held on Dec. 4, 2018 to discuss and approve 2017 annual financial results.
  • Baghdad Hotel (HBAG) announced that the company started to distribute 44% cash dividend (0.44% dividend per share) from 2017 profit starting Dec. 2, 2018.
  • Cross Transactions: 1.38 bn shares of Asia Al Iraq Islamic Bank for Investment (BAIB) on Dec. 3, Dec. 4 and Dec. 5, 2018, which represent 1.38% of BAIB capital.

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Average daily turnover in November continued to improve, increasing 24% on the back of October’s 24% month-on-month growth. However, the recovery is coming from an incredibly low base and still shows the average daily turnover in-line with the dismal levels of September, which were among the lowest for some time (chart below).

With the gradual recovery in turnover, the market, as measured by the RSISUSD Index, moderated its month-on-month declines, down -1.7% for the month- continuing to test the major bottom of May 2016.

However, the end the Arbaeen, summer, and the government formation are yet to mark the end of the period of, probably, the lowest daily trading volumes on the Iraq Stock Exchange (ISX) since it first witnessed an expansion in volumes in 2010. The anomaly and un-sustainability of these low levels was discussed last month, and logic continues to argue for a reversion to the mean.

(Source: Iraq Stock Exchange, Rabee Securities, Asia Frontier Capital)

It was also argued last month that an uptick in M2 (broad money and a proxy for economic activity) could imply that liquidity, brought on by a two-year recovery in government finances, has finally begun to filter down into the economy – which should accelerate as the new government begins to act on its spending programme.

A nascent recovery in telecoms adds support to this line of reasoning. The two major mobile operators out of three national operators, reported Q3/2018 earnings that display the markers of recovery in earnings, margins and profits. Of the two, AsiaCell (TASC) has been listed since 2013 and as such its reported earnings span the period 2012-2018, and thus reflects the operating environment before, during and just after the ISIS conflict.

(Sources: Rabee Securities, ISX, Company reports, Asia Frontier Capital)

TASC’s earning’s profile marked by rapidly increasing revenues – driven by the country’s adoption of mobile phones – peaked in 2013. The turn for the worst started in late 2013 with the increasing violence before the May 2014 elections, which accelerated by mid-2014 with the ISIS invasion and the loss of over a third of the country, and with that a significant loss in TASC’s subscriber base.

The roll out of 3G in early 2015 brought its own set of problems. The amortization of the fees of $307 million (on top of fees of $1,250 million in 2007 for a 15-year licence) to access the 3G spectrum increased costs meaningfully. While, revenues took a hit as free IP voice telephony soon replaced most expensive regular telephony-especially for international calls, while data fees could not fully replace these lost voice revenues. This was compounded by increased competition among the three mobile operators as they sought to replace both lost consumers and voice revenues through competitive price offerings to lure consumers from each other.

Capping the woes of mobile operators was the severe economic decline brought about by the ISIS conflict and the collapse oil prices as non-oil GDP declined by -3.9%, -9.6% and -8.1% for 2014, 2015 and 2016, respectively.  Finally, the resultant weaknesses in both consumer and business demand was made much worse with the introduction of 20% VAT on phone cards in the summer of 2016.

For TASC, the revenue decline, while cost increases crushed its profits (as the chart above shows), however this decline in profits was moderated by very strict cost controls and decreasing capital expenditures reflecting an earlier heavy investment in infrastructure.

The bottoming in revenues over the last few years came to end in late 2017 with the liberation of Mosul and the gradual return of customers which contributed to the recovery in profitability. The company signalled its confidence in its future outlook with a distribution of a 12% dividend on the back of last year’s 14% dividend – however, in absolute terms the dividend is about one third higher than that of last year. The grandfathering of the transition to 3G, the amortization of the licence and the effects of the VAT introduction, all coupled with the return of customers as well as the expected growth in data usage should lead to a healthy period of resumed earnings growth.

The next few quarters should see a similar recovery for the battered banking sector, with probably the first to recover being the quality of loans. A return of liquidity and an economic pick-up should be followed by a recovery in the quality of bad loans and the reversal of NPL’s (non-preforming loans) with past provisions becoming earnings, thus providing the first boost to earnings recovery. This should be followed by growth in loans and deposits, as should growth in trade finance revenue, and therefore similarly to the case of telecom should lead to a resumption of a period of earnings growth, and with-it better stock price performance. For more details on the banks see “Of Banks and Budget Surpluses”.

Recovery, in frontier markets, is a mirror image of Mark’s Twain’s phrase on going broke, in that recovery happens gradually and then suddenly. If similar experiences in other frontier markets of declining prices while fundamentals point to a start of a gradual recovery, then the trend of the last few months could be followed by a sharp reversal to the upside.

Please click here to download Ahmed Tabaqchali’s full report in pdf format.

Mr Tabaqchali (@AMTabaqchali) is the CIO of the AFC Iraq Fund, and is an experienced capital markets professional with over 25 years’ experience in US and MENA markets. He is a non-resident Fellow at the Institute of Regional and International Studies (IRIS) at the American University of Iraq-Sulaimani (AUIS), and an Adjunct Assistant Professor at AUIS. He is a board member of the Credit Bank of Iraq.

His comments, opinions and analyses are personal views and are intended to be for informational purposes and general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any fund or security or to adopt any investment strategy. It does not constitute legal or tax or investment advice. The information provided in this material is compiled from sources that are believed to be reliable, but no guarantee is made of its correctness, is rendered as at publication date and may change without notice and it is not intended as a complete analysis of every material fact regarding Iraq, the region, market or investment.

KRG Prime Minister Nechirvan Barzani received Lebanese Minister of Foreign Affairs Gebran Bassil, Minister of State for Combating Corruption Nicolas Tueni, and their accompanying delegation.

In the meeting, also attended by Kurdistan Regional Government ministers and senior officials, they discussed the political situation in Iraq including the post-election process, and the formation of the new Iraqi government and new Kurdistan Regional Government cabinet.

Minister Bassil thanked the Kurdistan Regional Government for its assistance and support to the Lebanese community. He emphasized the desire of Lebanon to strengthen relations with the Kurdistan Region, especially in the fields of investment, trade, tourism and culture.

Prime Minister Barzani reaffirmed the KRG’s support to Lebanese businessmen and investors. He praised the activities of the Lebanese community in the Kurdistan Region.

The political situation in the wider region was also discussed.

(Source: KRG)

By John Lee.

Iraq’s National Investment Commission (NIC) has identified five main issues hindering investment in Iraq:

  1. Not applying the One Stop Shop (OSS) law as it should be applied and denying the OSS representatives the required authorities to decision making;
  2. Difficulties in allocating lands and being subject to interpretation and wishes of various bodies;
  3. Problems with lack of funding and the banking system;
  4. Political quotas and interference in the provincial councils; and,
  5. The spread of administrative corruption.

The full statement from the NIC can be read below:

The National Investment Commission holds an elaborated meeting in the presence of the Secretary General of  the Ministers Council 

The National Investment Commission (NIC) held on Tuesday 27/11/2018 an expanded workshop devoted to discussing the investment map of Iraq for 2019 in the presence of the Secretary General of the Council of Ministers Dr. Mahdi Alallaq, the head of the Secretariat of the Coordinating Committee in the Provinces Mr. Turhan Al Mufti and Chairmen of a number of Provincial Investment Commissions in addition to representatives of a number of Ministries and concerned state institutions.

NIC Chairman emphasized in his speech that this workshop comes to complete the first meeting, which included representatives of investment activity in various ministries and departments to discuss the investment map for 2019 in response to the invitation of the Prime Minister Dr. Adel Abdul Mahdi to discuss the reality of investment situation in Iraq and develop effective solutions for issues facing investment projects in all governorates across the country. .

He also determined five main issues that participated in hindering investment in Iraq, three of them are related to investment law. The first, is not applying the One Stop Shop (OSS) law as it should be applied and denying the OSS representatives the required authorities to decision making. The second, is difficulties in allocating lands and being subject to interpretation and wishes of various bodies. Funding and banking systems represent the third issue for not supporting economic projects.

Two other big problems deviated the investment path and its law, Political quotas and interference in the provincial councils and the negative impact on investment work, as well as the spread of some administrative corruption.

NIC Chairman called for the importance of developing realistic and feasible plans for the next phase due to the possibility of world oil prices fluctuation, which forces those who practice economic activities in the country to work in accordance with the system of diversified and non-monolithic economy and bridging the widening gap between the parties involved in this activity on one hand and owners of capital, companies and businessmen on the other hand. This reflects a lack of accurate understanding to the spirit of the articles of the investment law.

Dr. Mahdi Al-Alallaq, Secretary-General of the Council of Ministers reviewed a number of issues that are challenging the investment process in Iraq, including the increasing unemployment rates and total dependence on the government sector instead of the private sector represented in large inflation in the number of workers in the form of contracts and daily wages in the various government departments. Fixing them in permanent jobs as governmental employees became a real entitlement to them but represents a major embarrassment to the budget.

All this is due to weak legislations that encourages working for the private sector such as social security and financial stability that enhance the workers feeling being equal to any governmental employee. Also, many relevant state departments are very conservatives regarding allocated lands for investment which in time created a huge obstacle to go on with investment projects.

He called to promote the investment opportunities already presented in Al Kuwait International Conference for Rebuilding Iraq last February and earned a big international interest.  He also assured the Council of Minsters’ support for those opportunities being the ideal solution for the Iraqi economy in this phase.

the head of the Secretariat of the Coordinating Commission for the Provinces, Mr. Turhan Al Mufti, asked the heads of the Provinces Investment Commissions to suggest the required mechanisms to deal with the investment departments in the ministries and other state institutions and thus contribute to bringing the views closer between the two parties, stressing that the third meeting will be between the concerned parties in investment in ministries and to accelerate adopting the necessary decisions to achieve the expected qualitative boom in the investment sector in Iraq in 2019

NIC Chairmen listened to a number of proposals and opinions from the heads of the provinces investment commissions, during which a number of things were covered, including the need to facilitate the bureaucratic procedures that the project goes through and the number of entities that inspect it and blackmailing investors and delays which makes many investors leave the country.  They also called for reducing external interventions in projects and reactivate the Department of Investors’ Protection.

(Source: NIC)

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th November 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD650 (-2.0%) / $697 (-2.0%) (weekly change) (-19.9% and -16.6% YTD change, respectively). The number of week traded shares was 3.7bn and the weekly trading volume was IQD2.5bn ($2.0mn).

ISX Company Announcements

  • According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,268,493 on Sunday (Dec. 2, 2018). (Table: 2.3)
  • ISX will suspend trading of AL-Kindi of Veterinary Vaccines Drugs (IKLV) starting Dec. 16, 2018 due to the AGM* that will be held on Dec. 19, to discuss and approve 2017 annual financial results.
  • ISX will suspend trading of National Islamic Bank (BNAI) starting Dec. 2, 2018 due to the AGM* that will be held on Dec. 4, 2018 to discuss and approve 2017 annual financial results.
  • Asiacell (TASC) resumed trading on Nov. 29, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 100% cash dividend (IQD1.00 dividend per share, 12.0% dividend yield).
  • Al Janoob Islamic Bank (BJAB) resumed trading on Nov. 29, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 0.83% cash dividend (IQD0.0083 dividend per share).
  • ISX suspended trading of Mansour Hotel (HMAN) starting Nov. 28, 2018 due to the AGM* that will be held on Dec. 3, 2018 to discuss and approve 2017 annual financial results.
  • Elaf Islamic Bank (BELF) resumed trading on Nov. 27, 2018 after discussing and approving 2017 annual financial results.
  • ISX requested Metallic & Bicycles Industries (IMIB) to provide its AGM minutes for being able to resume trading on the ISX.
  • Cross Transactions: 920 mn shares of Asia Al Iraq Islamic Bank for Investment (BAIB) on Nov. 28 and Nov. 29, 2018, which represent 0.92% of BAIB capital.

By  for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News

Putin eyes visit to Baghdad amid growing Russian-Iraqi contacts

Lately, official Russian-Iraqi contacts have been intensifying noticeably.

On Nov. 23, Russian Foreign Minister Sergey Lavrov and Iraqi President Barham Salih met behind closed doors within the agenda of the Mediterranean Dialogue in Rome. On Nov. 20-21, Mikhail Bogdanov, the Russian deputy foreign minister and special presidential envoy for the Middle East and North Africa, met all of Iraq’s key decision-makers when he was in Baghdad. The sides agreed to further develop relations and make efforts to hold a meeting on the highest level.

Russian officials’ increased contacts with their Iraqi counterparts have become a virtual necessity as a result of the changes in Iraq’s domestic politics brought about by the latest electoral cycle. The number, level, and scale of the meetings are indeed exceptional, and all the more so considering the constant foreign trips Iraqi politicians themselves make.

Click here to read the full story.

IBBC welcomed 260+ delegates to Dubai to discuss ‘Iraq – Reconstruction & Rebuilding, how to deliver Vision’ with expert Industry, Government and International Organisations on 25th November

Iraq Britain Business Council held its annual Autumn Conference in Dubai yesterday on the 25th November at the Address Dubai Marina in Dubai.

The event hosted many speakers from the major companies operating in Iraq including IOCs, Logistics, Finance and Legal and Infrastructure, as well as Government Officials from the UK, UAE, Iraq, The World Bank and IMF to discuss the key issues facing Iraq’s economy today. IBBC welcomed over 260 delegates at the event for its largest ever attendance.

Under the Chairmanship of Vikas Handa, IBBC Representative in the UAE, Baroness Nicholson of Winterbourne, President of IBBC and The Prime Minister’s Trade Envoy to Iraq opened the conference alongside H.E. Abdulla Ahmed Al Saleh, Undersecretary of the UAE Ministry of Economy for Foreign Trade & Industry Professor Sabah Mushatat, Prime Minister’s Advisor for Reconstruction and Investment. H.E. Bengan Rikani, Iraqi Minister for Housing, Reconstruction & Public Municipalities, Government of the Republic of Iraq. Michael Townshend, Regional President BP Middle East and Jon Wilks CMG, Her Majesty’s Ambassador to Iraq.

HE Abdulla Ahmed Al Saleh

IBBC was honoured to have HE Abdulla alSaleh give a keynote speech at the IBBC Conference in Dubai for the third year running, His Excellency reaffirmed the UAE’s commitment to building a diverse and prosperous Iraq as per the IBBC’s mission statement. Professor Mushatat delivered a message from the Prime Minister of Iraq H.E. Adil Abdul-Mahdi delivering the PMs support for the development of the Private Sector and Foreign Enterprise in Iraq and complimenting IBBC as a trusted partner to achieve these goals.

H.E. Bengan Rikani spoke of the challenges ahead to meet the population growth of Iraq, the continuing efforts to rebuild liberated areas and the infrastructure projects underway. Ambassador Jon Wilks highlighted the importance of Iraq to the British economy, where trade has increased by 10% in the last year alone and stressed the commitment of PM Theresa May, Liam Fox MP Secretary of State for International Trade and DFID to facilitating Trade between the UK & Iraq.

“Now is the time to look again at the Iraq Market”
Her Majesty’s Ambassador Jon Wilks CMG

Michael Townshend reminded the audience that there was more Oil available globally than humanity could consume and that the Rumaila’s oilfield operated by BP in Iraq was not only one of the largest but also one of the most economic fields in the globe, providing Iraq with the lion share of its incomes.

Michael Townshend, BP

This year’s Agenda focused on the key issues of how Iraq can rebuild its towns and cities and develop its economy and evolving Infrastructure and Utilities with an emphasis on expanding Oil & Gas production, improving the Regulatory Framework and Financial systems and exploring the role of Logistics in moving people and materials into and around the country.

Conference Sessions & Speakers:

Logistics – Imports/Exports, People & Goods

Beverley Simpson, Director – Iraq, Department of International Trade; Rolls-Royce; SKA International Group; Basrah Gateway Terminal; G4S

Regulatory & Financial Framework – Encouraging International Investment

Management Partners; Dr Sabah Mushatat, Investment & Reconstruction Advisor to the Prime Minister of Iraq; National Bank of Iraq; IMF; AFC Iraq Fund; Eversheds-Sutherland

Energy – Increasing Production

Shell; Chevron; GE

Infrastructure – Rebuilding & Utilities Supply

IFC; Wood; EAMES; Siemens; Prof. Frank Gunter, Lehigh University

Ms Duha Mohammed, Capital Bank of Iraq

The conference also featured the highly successful roundtable discussions, where delegates engaged in dynamic and concentrated debates on the country issues which matter most. Delegates also enjoyed a pre-conference reception on 24th November at the Address Dubai Marina, as well as many networking opportunities throughout the event.

IBBC would like to thank the efforts of its sponsors Rolls Royce, Serco, SKA International Group, Siemens, GE, Basra Gateway Terminal and Khudairi Group.

IBBC also held a Tech Forum on 25th November under the Chairmanship of IBBC Marketing Consultant Ashley Goodall. The forum ran in parallel to the conference at the same venue. Some of the most important innovators of Tech in Iraq spoke on Fintech, the Consumer Economy, E-Government and the Start-Up Economy. Speakers included representatives from EY Iraq, Avaya, Citi Bank, Restrata Group, Microsoft, Khudairi Group, VentureSouq, Careem and the International Development Bank.

IBBC is particularly grateful to Ms Suha Mohammed, DG for payments at the Iraqi Central Bank, and to Mr Hiwa Afandi, DG of the Information Technology Department of the Kurdistan Regional Government for participating in this event.

Tech companies are already disrupting the heavily state dominated Iraqi economy and are the bearers of hope for tangible change in a country that has an extremely young and tech savvy population and has an urgent need to create hundred of thousands new jobs every year.

For any enquires please email london@webuildiraq.org

(Source: IBBC)

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd November 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD663 (-0.14%) / $711 (-0.02%) (weekly change) (-18.3% and -14.9% YTD change, respectively). The number of week traded shares was 1.7bn and the weekly trading volume was IQD1.1bn ($0.9mn).

ISX Company Announcements

  • The second issued national bonds started trading on Nov. 21, 2018 on the ISX. 350 units of IQD5.0 mn class bonds (CB125) traded and thus total trading volume occurred at IQD1.83 bn. The opening price of the bond was IQD5.22 mn and the bond closed at a price of IQD5.23 mn. (Annual interest of the bond is 8.0% and the bond maturity date is Apr. 2, 2019.) [Table (2.3)]
  • According to ISX announcement, the opening price of the bond (CB125) will be IQD5.260.822 on Nov. 25.
  • ISX will suspend trading of Al-Mosul for Funfairs (SMOF) starting Dec. 4, 2018 due to the AGM* that will be held on Dec. 9, 2018 to discuss and approve 2015, 2016 and 2017 annual financial results.
  • ISX will suspend trading of Middle East Producing & Marketing Fish (AMEF) starting Dec. 2, 2018 due to the AGM* that will be held on Dec. 5 to discuss and approve the financials of the ending year Mar. 31, 2018.
  • ISX will suspend trading of Mansour Hotel (HMAN) starting Nov. 28, 2018 due to the AGM* that will be held on Dec. 3, 2018 to discuss and approve 2017 annual financial results.
  • ISX will suspend trading of Ready Made Clothes (IRMC) on Nov. 25, 2018 if the company fails to explain why the prices touched the higher limit on Nov. 21, 2018 and Nov. 22, 2018.
  • Kharkh Tour Amuzement City (SKTA) resumed trading on Nov. 22, 2018 after discussing and approving 2017 annual financial results.
  • ISX suspended trading of Asiacell (TASC) starting Nov. 21, 2018 due the AGM* that will be held on Nov. 26, 2018 to discuss and approve 2017 annual financial results.

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Note: ISX will be closed on Tuesday (Nov. 20, 2018) due to a religious holiday (Birth of the Prophet). The next trading session will be on Wednesday (Nov. 21, 2018).

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th November 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD664 (+1.6%) / $711 (+1.6%) (weekly change) (-18.1% and -14.9% YTD change, respectively). The number of week traded shares was 49.2 bn and the weekly trading volume was IQD18.3 bn ($15.1 mn).

ISX Company Announcements

  • ISX will suspend trading of Asiacell (TASC) starting Nov. 20, 2018 due the AGM* which will be held on Nov. 26, 2018 to discuss and approve 2017 annual financial results.
  • The national bonds owned by Al-Kindi of Veterinary Vaccines Drugs (IKLV) will start trading on the ISX on Nov. 18, 2018. The total number of the bonds that will start trading is 350 and each of them are from IQD5,000,000 category (ISX ticker: CBI25). Opening price for each bond will be IQD5,252,945 (IQD5,000,000 (price of the bond) + IQD252,945 (interest)) with +/-5% price change limit, and thus, the total value of the bonds that will start trading be IQD1,838,530,750 (350 X IQD5,252,945). Annual interest of the bond is 8% and the bond maturity date is Apr. 2, 2019.
  • Original shares of Dar Al-Salam for Insurance (NDSA) will resume trading on Nov. 18, 2018 after deciding to increase the capital from IQD5.0 bn to IQD7.0 bn through 40% rights issue. The opening price will be IQD0.64 with +/-50% price change limit for the first session and after that, price will be able to change with +/-20% limit per day.
  • Palastine Hotel (HPAL) will resume trading on Nov. 18  due to disclosing 2017 annual financial results.
  • The National Bank of Iraq (BNOI) signed a trade finance agreement on Tuesday with the International Finance Corporation (IFC), a member of the World Bank Group, to help the bank’s client businesses access global markets, boosting trade and spurring economic growth. In addition, a Memorandum of Understating (MOU) was also signed between the two parties whereby the IFC will provide NBI with support related to the field of Corporate Governance. (BNOI Website)
  • Baghdad Hotel (HBAG) resumed trading Nov. 13, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 44% cash dividend (0.44% dividend per share, 4.9% dividend yield).
  • Cross Transactions: 44.6 bn shares of Zain Al-Iraq Islamic Bank (BZII) on Nov. 14, 2018, which represents 17.8% of BZII capital.

By John Lee.

The National Investment Commission (NIC), in cooperation with the Babylon Investment Commission, is pleased to announce the following investment opportunities:

  1. Educational Research Center and Environment Laboratories within the main university site area of 1300 m² plot number 1/3474 m 17 Tajia.
  2. The Central Student Club of the University of Babylon within the main university site with an area of 2000 m² plot number 1/3474 m 17 Tajia.
  3. Medical Research Center and Specialized Educational Laboratories within the university’s main site with an area of 2900 m² plot number 24/17859 m 17 Waseya.
  4. Educational swimming pools with multi-purpose hall within the main university site with an area of 12500 m² plot number 1/12908 m 17 Tajia.

Those who wishes to invest in the above-mentioned investment opportunities can visit Babylon Investment Commission to review the special requirements of each opportunity, knowing that applications are accepted until the end of official working hours on Wednesday 5/12/2018.

(Source: National Investment Commission)

(Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)